Office of Financial Aid – Federal Aid Programs

GRANTPell Grant A federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are
awarded only to students who have not earned a bachelor’s degree. Pell Grant eligibility
is determined by the results of the Free Application for Federal Student Aid (FAFSA),
or Expected Family Contribution (EFC). The amount awarded will depend on your enrollment
status as a full-time or part-time student.

Supplemental Educational Opportunity Grant (SEOG) The Federal Supplemental Educational Opportunity Grant (SEOG) program is for undergraduates
with exceptional financial need. Pell Grant recipients with the lowest EFC will be
considered first for a SEOG. Just like the federal Pell Grant, the SEOG does not have
to be repaid. Funds for this program are limited.

WORK STUDY The Federal Work Study Program (FWSP) allows undergraduate students who show financial
need to earn money to assist with their educational expenses. Students interested
in FWSP must file a FAFSA each year. This program has limited funding.

Employment through FWSP allows students the flexibility of participating in either
on-campus employment or in a community service, family literacy or tutoring capacity.
Inquiries may be made in the Financial Aid Office as to the procedures for filling
work study positions. For additional information, please refer to LSU Eunice Policy Statement No. 24 .

LOANSFederal Direct Subsidized Stafford Loan Awarded on the basis of the student’s financial need. The federal government does
not charge interest on these loans while borrowers are enrolled at least half-time,
during a six-month grace period, or during authorized periods of deferment. Payments
are not required while borrowers are enrolled at least half-time, during a six-month
grace period, or during authorized periods of deferment.

Federal Direct Unsubsidized Stafford Loan This loan is not based on the student’s financial need. Interest is charged throughout
the life of the loan. The borrower may choose to pay the interest charged on the loan
or allow the interest to be capitalized (added to the loan principal). Payments are
not required on the principal of the loan while borrowers are enrolled at least half-time,
during a six-month grace period, or during authorized periods of deferment

The current interest rate on Direct Subsidized/Unsubsidized Loans certified prior
to July 1, 2017 is 3.76%. The current fee rate on these loans is 1.069%.

Direct PLUS Loan - Parent Loans for Undergraduate StudentsParents of a dependent undergraduate student may apply for the PLUS Loan to assist
with the student’s educational expenses. The loan amount awarded is a calculation
based on the student’s educational expenses up to their cost of attendance minus all
other financial assistance received. The current interest rate on a Direct PLUS Loan
certified prior to July 1, 2017 is 6.31% and is fixed for the life of the loan. The
current fee rate on this loan is 4.276%.